Blockchain Fatigue?

Blockchain news and its uses have been communicated comprehensively for years now. However, there are individuals who feel this “Blockchain Fatigue” where there are many sources of information talking about the benefits and the potential of Blockchain but its actual real-life application are still somewhat vague.

We have previously posted insight into Blockchain and Blockchain Technology however there is a lack of attention around the successful implementation of the system despite its potential and wide use application.

Blockchain has been rendered to be an adaptable technology that can record financial records, store information or even track data through a supply chain. Blockchain is ultimately more of a business enabler than a technology. There are multiple ways Blockchain technology can disrupt your industry and present solutions to common business problems today.

According to a recent survey conducted by Deloitte, it was found that…

“78 percent of our survey respondents believe they stand to lose competitive advantage if they do not eventually implement blockchain…

…. However, the only real mistake we believe organizations can make regarding blockchain right now is to do nothing. Even without a completely solid business case to implement, we believe that organizations should at the very least, keep an eye on blockchain so that they can take advantage of opportunities when they present themselves”

According to the Deloitte study however despite (74%) the respondents confirming that their organisation sees Blockchain deployment as a compelling business case, only 34% have commenced implementation strategies.

There are numerous case studies and ideas of Blockchain adoption in various industries that businesses can consider however the primary focus is still increasing awareness of the different functionality enabled by Blockchain Technology. Only then can business leaders brainstorm its application to their immediate organisation needs and/or problems.